Although mortgage delinquency rates in December remained elevated in some areas impacted by last year’s hurricanes and wildfires, overall they were down compared with the previous month and from a year earlier, CoreLogic’s Loan Performance Insights Report shows.
In fact, delinquency and foreclosure rates in December were the lowest since at least 2000.
Nationally, 4.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in December, a decrease of 1.2 percentage points compared with December 2017, when the national rate was 5.3%.
The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2% in December, down from 2.4% in December 2017.
The share of mortgages that were 60 to 89 days past due was 0.7%, down from 0.8% in December 2017.
The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.5% in December, down from 2.1% a year earlier.
The serious delinquency rate has been steady at 1.5% since August 2018 – the lowest level for any month since March 2007 when it was also 1.5%.